Barratt Developments PLC's (LSE:BDEV) £2.5 billion takeover of Redrow PLC (LSE:RDW) has been given the final go-ahead by regulators in the UK.
Britain’s Competition and Markets Authority (CMA) confirmed on Friday that a phase two investigation of the merger would not be launched and the deal could finally go ahead.
An initial enforcement order had been placed on the proposal, delaying full integration of the two companies as the CMA consulted on undertakings to quell competition concerns.
This came after the CMA said the duo only had a high combined market share in one area of the country, in Whitchurch, Shropshire.
“Today is a significant milestone for Barratt Redrow, as we come together as one organisation,” Barratt chief executive David Thomas said.
“With this combination, we have created an exceptional housebuilder in terms of quality, service and sustainability, able to accelerate the delivery of the homes this country needs.”
The all-share deal had been announced last February, with the CMA launching a phase one investigation in March.
“Our focus now is on integrating our businesses as efficiently and effectively as we can to deliver the expected benefits of the combination,” Thomas added.